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Longmont shouldn't take a big hit on cycle event

Posted:
11/19/2012 02:53:05 PM MST

Updated:
11/19/2012 02:53:49 PM MST

It sure wouldn't hurt to have Longmont be part of next year's USA Pro Cycling Challenge. It would bring people and their money into town, which would be a nice boost to the local economy and a bump in tax revenues for the city. Media exposure for the city would be a bonus.

But we agree with Councilman Brian Bagley's assessment that the city should invest in the race only if it's a "net economic positive."

"I don't want just to do it because it's a big party and it sounds fun," he said during a late October council meeting.

Organizers of the effort to be one of a dozen or so Colorado cities to win a stage in the weeklong, multi-stage race -- about 35 are applying -- expect to need $270,000 if Longmont is chosen: $100,000 from sales and sponsorships; $35,000 to $45,000 from Visit Longmont; and $93,000 from the city, mostly in public safety and street expenses.

Could Longmont break even on a $93,000 investment? Probably not. Boulder taxpayers shelled out $283,000 for that city's participation in the challenge this summer. A CU study concluded that the race brought in an additional $1.2 million in business, with the city getting $48,133.

Councilman Alex Sammoury last Tuesday had the best suggestion for organizers: Raise more money from sponsors. "What I would encourage you to do is to raise $170,000 in sponsorship," he said, "so that if you have to come back to the city, it won't be that big of a hit."

Longmont may not have to recoup its entire investment to see a good return for local businesses. But Sammoury's right. The city shouldn't take a big hit to bring a stage of the Pro Cycling Challenge to town.

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